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How to Transfer a Real Estate Title in Flossmoor, IL

Transferring a real estate title in Flossmoor, Illinois, is a vital legal process that ensures proper property ownership change. Whether you’re selling your home, gifting it to a family member, transferring it due to divorce, placing it in a trust, or handling an inheritance, the transfer of title must be completed accurately to be valid under Illinois law.

Flossmoor is in Cook County, so all real estate transfers must follow Illinois state law and Cook County Clerk’s procedures. This comprehensive guide will explain how to transfer a real estate title in Flossmoor, IL, including deed types, form requirements, transfer taxes, and helpful resources for homeowners.

What Is a Real Estate Title Transfer?

A real estate title transfer is the legal act of transferring property ownership from one person or entity (the grantor) to another (the grantee). This is accomplished using a legal document known as a deed.

Once the deed is completed correctly, signed, notarized, and recorded with the Cook County Clerk’s Office, the transfer becomes part of the public record, and the grantee becomes the legal owner of the property.

When Do You Need to Transfer a Title?

You must transfer title whenever ownership of real estate changes due to:

• Sale of the property

• Gift to a spouse or family member

• Transfer to or from a trust or LLC

• Divorce-related settlement

• Death of the property owner (estate transfer or inheritance)

• Correcting a name or ownership record

Why a Proper Title Transfer Is Important

An adequately recorded title transfer is essential for:

• Establishing legal ownership

• Ensuring property taxes are billed to the correct party

• Maintaining a transparent chain of title

• Enabling mortgages, refinancing, and resale

• Avoiding ownership disputes and legal issues

Failure to record the title transfer could prevent the new owner from selling or financing the property later.

Step-by-Step: How to Transfer a Real Estate Title in Flossmoor, IL

Step 1: Identify the Reason for the Transfer

The reason for the transfer will determine what type of deed and process you need. Each type of transfer (sale, gift, inheritance, divorce, etc.) may come with different requirements and tax consequences.

Common reasons include:

• Real estate sale

• Gift to a family member

• Divorce decree or court order

• Trust creation or dissolution

• Inheritance after the death of the owner

Step 2: Choose the Correct Type of Deed

The deed is the central document in the title transfer process. The right type of deed depends on the level of protection provided and the nature of the transaction.

1. Warranty Deed

• Commonly used in real estate sales.

• Guarantees that the grantor holds a clear title.

• Provides the most potent legal protection to the grantee.

2. Quitclaim Deed

• Transfers the grantor’s interest in the property without any warranties.

• It is commonly used between family members or in divorce cases.

• It is fast and simple but offers no protection for the grantee.

3. Special Warranty Deed

• Used primarily in commercial or limited liability transactions.

• Warrants that no title issues occurred during the grantor’s ownership but not before.

4. Transfer on Death Instrument (TODI)

• Used for estate planning.

• Transfers property to a named beneficiary upon the owner’s death without probate.

Consult a real estate attorney or title company if you're unsure which deed to use.

Step 3: Draft the Deed

The deed must meet all Illinois legal requirements and include:

• The full legal names and addresses of both grantor and grantee

• A complete legal description of the property

• The Property Index Number (PIN) from the Cook County Assessor

• The consideration amount (sale price or fair market value)

• “Prepared by” and “Return to” contact sections

• The grantor’s notarized signature

You can find the PIN and legal description using the Cook County Property Lookup Tool:
https://www.cookcountypropertyinfo.com

Accuracy is critical. The recorder may reject a deed with errors or omissions or cause legal issues later.

Step 4: Complete the Illinois PTAX-203 Real Estate Transfer Declaration

The PTAX-203 form must be completed for all real estate transfers in Illinois. The Illinois Department of Revenue uses this form to assess any applicable taxes and exemptions.

Download the PTAX-203 form here:
https://www2.illinois.gov/rev/forms/realestate/Documents/PTAX-203.pdf

The form requires:

• Property address and PIN

• Names of grantor and grantee

• Transfer type (sale, gift, inheritance, etc.)

• Fair market value or consideration amount

• Property use (residential, rental, commercial)

• Exemption code, if claiming a tax exemption

Exemption codes and instructions can be found at:
https://www2.illinois.gov/rev/localgovernments/property/Pages/realest.aspx

Step 5: Pay Real Estate Transfer Taxes

Real estate transfers in Illinois are subject to transfer taxes unless exempt.

Transfer Tax Rates:

• Illinois State Tax: $0.50 per $500 of consideration

• Cook County Tax: $0.25 per $500 of consideration

• Flossmoor Transfer Tax: As of 2024, Flossmoor does not have a municipal transfer tax. Verify this with the Village Clerk’s Office.

Village of Flossmoor Website:
https://www.flossmoor.org

Taxes are typically paid at the time of recording through the purchase of revenue stamps, which are affixed to the deed.

Step 6: Confirm That Property Taxes and Utility Bills Are Paid

Before recording, verify that:

• Property taxes are current

• There are no outstanding municipal liens

• Water, sewer, or garbage balances are paid

You can check Cook County property taxes at:
https://www.cookcountytreasurer.com

To check for outstanding municipal bills, contact the Flossmoor Finance Department.

Step 7: Record the Deed with the Cook County Clerk

The deed and PTAX-203 form must be recorded with the Cook County Clerk’s Office – Recordings Division to complete the transfer.

Cook County Clerk – Recordings Division
118 N. Clark Street, Room 120
Chicago, IL 60602
Phone: (312) 603-5050
Website: https://www.cookcountyclerkil.gov/agency/recordings-division

How to Record:

• In person at the office

• By mail (include check and return envelope)

• Electronically through approved e-recording vendors (commonly used by title companies)

Typical Recording Fees: $98 to $110, depending on the number of pages.

Once recorded, a stamped copy of the deed will be returned to the address listed in the “Return to” section.

Step 8: Notify All Relevant Agencies and Service Providers

After the deed is recorded, notify the following:

• Mortgage lender (if applicable)

• Homeowners insurance company

• Title insurance company

• Cook County Assessor’s Office

• Village of Flossmoor (for utilities, water, billing, etc.)

This ensures that future tax bills, insurance documents, and service notices are addressed to the correct person.

Special Title Transfer Scenarios in Flossmoor, IL

Inheritance and Estate Transfers

If the property owner is deceased, the title may transfer through:

1. Transfer on Death Instrument (TODI)

If one was recorded, the property transfers automatically to the named beneficiary upon the owner's death, with the recording of a death certificate and affidavit.

2. Living Trust

If the property is held in a trust, the successor trustee can execute a deed to transfer the property to the beneficiary.

3. Probate Court

If no TODI or trust exists, the estate must go through probate. A court-appointed executor will prepare and record the deed.

More info on probate in Illinois:
https://www.illinoiscourts.gov/courts/circuit-court/probate

Transfers Due to Divorce

Even if a divorce decree awards a property to one spouse, the deed must still be changed.

Steps:

• Use a Quitclaim Deed

• Complete the PTAX-203 with the proper exemption code

• Record with the Cook County Clerk’s Office

How Long Does It Take to Transfer Title?

• Simple transfers (e.g., sales or gifts): 5 to 10 business days

• Probate or estate-related transfers: 2 to 6 weeks

• Delays may occur if taxes are unpaid, documents are incomplete, or legal issues arise

Estimated Costs for Title Transfer in Flossmoor

• Deed preparation (via attorney or title company): $200–$500

• Recording fee: $98–$110

• Transfer tax: $0.75 per $500 of consideration

• PTAX-203: Free to file

• Probate/legal fees (if applicable): Varies

• Title insurance or search (optional): Varies

Helpful Resources for Flossmoor Property Owners

• Village of Flossmoor:
  https://www.flossmoor.org

• Cook County Clerk – Recordings Division:
  https://www.cookcountyclerkil.gov/agency/recordings-division

• Cook County Treasurer (Tax Payments):
  https://www.cookcountytreasurer.com

• Cook County Property Info (PIN Lookup):
  https://www.cookcountypropertyinfo.com

• PTAX-203 Transfer Declaration Form:
  https://www2.illinois.gov/rev/forms/realestate/Documents/PTAX-203.pdf

• Illinois Transfer Tax Exemptions:
  https://www2.illinois.gov/rev/localgovernments/property/Pages/realest.aspx

• Illinois Probate Court Info:
  https://www.illinoiscourts.gov/courts/circuit-court/probate

Final Thoughts

Transferring a real estate title in Flossmoor, IL, requires attention to legal details, proper documentation, and timely filing with the Cook County Clerk. Whether you're transferring property due to a sale, gift, trust, divorce, or inheritance, following the proper steps ensures the new owner is legally recognized and avoids complications in the future.

It’s wise to work with a real estate attorney or licensed title company for guidance when in doubt- especially in cases involving probate, trusts, or legal disputes.